Tokyo investors take small profits in early trade
By Lisa Fingeret in New York
Published: March 5 2002 00:22 | Last Updated: March 5 2002 01:03
markets.ft.com
Tokyo investors took some profits at Tuesday's open but shares remained relatively stable after the benchmark Nikkei 225 average hit a six-month high on Monday.
At midmorning, the Nikkei was down 36.53 at 11,413.69 while the Topix average was nearly flat at 1,078.56.
Tobishima Corp, the struggling Japanese builder that lost 20 per cent of its value on Monday, regained some losses, up 48.6 per cent at Y11,000.
All Nippon Airways added 3 per cent to Y375 after reports it would beat earnings target. Japan Airlines added 1.3 per cent to Y395.
In banking, Daiwa Bank fell 10 per cent to Y99, but the rest of the sector added to Monday's gains. Mizuho Holdings added 6.4 per cent to Y316,000 and Mitsubishi Tokyo Financial put on 1.2 per cent to Y894,000. UFJ Holdings and Sumitomo Mitsui Banking were up 3.6 per cent each at Y345,000 and Y582, respectively.
Brokers were also higher, with Nikko Cordial and Daiwa Securities each up 1.7 per cent. |
